Quote:
Originally Posted by kerry
If a person is worried about breakdowns, 2 old cars are the solution. Odds are good one will be driveable and two old cars are far cheaper than one new car.
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I like this advice.
As a married person, we have three cars, all paid for, all with high mileage.
When one car needs a repair or routine maintenance, we can have it worked on because we always have a backup. It doesn't matter how long it takes for the repairs / maintenance to be completed because we always have a spare car.
Also, I don't believe in financing a car. If you can't afford it, don't buy it. Save your money, and then pay for it with cash. I'm 46 years old, and make a very good living. My wife is able to stay at home with our 10 year old twins, not primarily because my pay is high, but that we live way below our means. The only payment we have is our mortgage. We have no other debt. If we had one (or two) car payments, my wife would probably have to get a part-time job (at minimum), or we would have to cut back on retirement or college savings.